Days before it is slated to announce pricing for May-loading cargoes for Asia, the world’s top crude exporter, Saudi Arabia, is unsure how the typical price mechanism could apply and is under pressure from buyers to switch to alternative pricing, as the war is upending oil flows and roiling regional benchmarks. Saudi Arabia typically announces around the fifth of each month its crude pricing for the following month and doesn’t comment on price changes. It also sets the tone for the pricing of the other major oil producers in the Middle…

US President Donald Trump said he wants to “take the oil in Iran” and perhaps seize Kharg Island, while at the same time insisting that Washington is doing “extremely well” in negotiations with Iran and that he is "pretty sure" a peace deal will be reached "soon." The mixing of threats and the possibility of a peace deal with Tehran came in an interview published late on March 29 in the Financial Times and in remarks an hour later to reporters aboard Air Force One. To reporters, Trump hailed progress in talks with Iran,…

President Donald Trump on Monday threatened to destroy Iran's power plants, oil wells, Kharg Island, and potentially its desalination infrastructure if no ceasefire deal is reached, even as he claimed talks are moving in the right direction. "Great progress has been made but, if for any reason a deal is not shortly reached...we will conclude our lovely 'stay' in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully…

President Donald Trump on Monday threatened to destroy Iran's power plants, oil wells, Kharg Island, and potentially its desalination infrastructure if no ceasefire deal is reached, even as he claimed talks are moving in the right direction. "Great progress has been made but, if for any reason a deal is not shortly reached...we will conclude our lovely 'stay' in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully…

The ongoing Middle East conflict has upended global energy markets, cutting off supplies of approximately  8 million barrels of crude per day and 20% of liquefied natural gas (LNG). Brent crude has surged more than 50% to around $110/bbl since the conflict erupted in late February, while the U.S. stock market has lost nearly $4 trillion. Previously, we reported that Russia has emerged as the biggest winner of the war, with the conflict providing a strategic "economic lifeline" to Moscow by elevating oil prices, distracting Western allies from…

Criminals are exploiting weak points across the West Texas oil production region, which accounts for 15% of the world's energy resources. This emerging wave of oil theft is burning a multi-billion-dollar hole in the budgets of oil and gas operators across the Permian Basin and is becoming a national security threat. Bloomberg reports that oil and gas producers are losing at least $1 billion, if not more, per year due to oilfield theft in what the outlet describes as something straight out of a "Mad Max" movie. At the center of the Permian…

Electric vehicle (EV) makers are racing to develop the fastest battery chargers to give them the competitive edge, with Chinese producers once again coming out on top. One of the biggest criticisms consumers have is the length of time it takes to charge EVs, compared to refuelling internal combustion engine (ICE) alternatives. This has led several EV-makers to invest heavily in research and development into charging technology over the last decade. Some EV producers now think they may have the solution - ultrafast chargers. The race to develop…